Ruling blocks UAL jet seizure

CBSMarketWatch

SAN FRANCISCO (CBS.MW) -- As it struggles to emerge from bankruptcy protection, UAL Corp. won a skirmish with creditors as a judge blocked an attempt to seize 14 jets, the Chicago Tribune reported Saturday.

The parent company for United Airlines
UALAQ
won a temporary restraining order Friday from federal bankruptcy Judge Eugene Wedoff, the Tribune said. That stopped creditors represented by Chapman & Cutter LLP from repossessing eight Boeing 767 jetliners and six 737s.

UAL has objected that leaseholders are banding together to regain their planes. The airline company says that violates antitrust law requiring individual negotiations, the Tribune said. United says it is trying to renegotiate leases and has only met resistance from the group represented by Chapman & Cutter, according to the Tribune.

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